Reading Charts in Real Time

[Marko23 10]

http://www.traderslaboratory.com/forums/attachment.php?attachmentid=25215&stc=1&d=1310114993

[Marko23 10]

Trend continues after correction.

The last 1/3 could have made more profit.

 

http://www.traderslaboratory.com/forums/attachment.php?attachmentid=25216&stc=1&d=1310116296

 

Down 0.8 cent since 08:30.

Edited July 8, 2011 by Marko23

[Marko23 10]

The main job of the market is to fill orders.

 

http://www.traderslaboratory.com/forums/attachment.php?attachmentid=25217&stc=1&d=1310117313

[Cory2679 11]

Potential EU long...

 

UPDATE: Break-even. I got a decent move and a promising start, but it died and finally reversed. There was definitely an opportunity for taking some profit had I been actively managing my stop.

 

This has been an interesting exercise so far...watching my trades mature on their own. I know the small 0.5R winner I had early this week I would have cut for break-even or even a small loss had I been actively managing. However, here, I would have locked in some profits. I've got to learn when to cut them/move my stop and when to let them run/give them room, which is probably more art than science...and I'll never be perfect. Hopefully this exercise will do some good. It feels so passive, though. I'm watching them mature but I keep telling myself that I need to be actively learning from what I'm seeing, how is it changing how I'll manage my stops in the future, etc. I'm trying but I'm not sure I have the answers yet...I'm just starting, after all. I may end up doing this exercise 5-6 weeks, who knows. It seems to take me longer to get these things than it would someone else.

Edited July 8, 2011 by Cory2679

[Marko23 10]

UPDATE: ...when to let them run/give them room, which is probably more art than science....

 

Yes it is!

 

Just gave up my last 1/3 halfway, because I didn't spot

the running correction.

 

http://www.traderslaboratory.com/forums/attachment.php?attachmentid=25220&stc=1&d=1310118834

[Marko23 10]

Weak Euro

 

http://www.traderslaboratory.com/forums/attachment.php?attachmentid=25221&stc=1&d=1310119100

[Marko23 10]

Correction may begin

 

http://www.traderslaboratory.com/forums/attachment.php?attachmentid=25222&stc=1&d=1310120805

[Marko23 10]

Correction

 

http://www.traderslaboratory.com/forums/attachment.php?attachmentid=25223&stc=1&d=1310121000

[Cory2679 11]

Potential UJ long...

[Marko23 10]

Didn't trade the trend continuation within the correction.

That's risky in mo, just look at the retracements.

 

Customers are below current price.

 

http://www.traderslaboratory.com/forums/attachment.php?attachmentid=25227&stc=1&d=1310124475

[Marko23 10]

Stop orders filled, but without Short signal for me.

 

http://www.traderslaboratory.com/forums/attachment.php?attachmentid=25228&stc=1&d=1310126033

[Marko23 10]

This 1-2-3 down is not at the beginning of a trend.

Price action may turn sideways.

 

http://www.traderslaboratory.com/forums/attachment.php?attachmentid=25229&stc=1&d=1310127358

[Marko23 10]

You have been warned, orders are to be filled first.

 

http://www.traderslaboratory.com/forums/attachment.php?attachmentid=25231&stc=1&d=1310127651

[Marko23 10]

Standing ovations to US "numbers",

just look at FDAX and GB and Euro

 

http://www.traderslaboratory.com/forums/attachment.php?attachmentid=25235&stc=1&d=1310128438

 

Customers on both sides have been serviced!

[Cory2679 11]

Potential UJ long...

 

UPDATE: LOL...wow...can't help but laugh a little at that...this downmove occurred in about 5 seconds with the NFP report...

 

I was a little hesistant about going long so far along in an uptrend (thought I might have been a little late to the party), but I thought a long at a breakout might be an indication of higher highs to come.

 

Perhaps the lesson here is to simply not get in a position right ahead of NFP! It can get a bit like flipping a coin...

 

I'm a little concerned that I may be trading a little differently than I would be with a live account...willing to take trades I might not take with a live account...especially the trade the other day where I outright said I probably wouldn't take it if I were live. I need to be careful about that...

[Marko23 10]

There was no continuation signal,

so no trade was taken during these moves.

 

http://www.traderslaboratory.com/forums/attachment.php?attachmentid=25237&stc=1&d=1310128891

[Cory2679 11]

Perhaps the lesson here is to simply not get in a position right ahead of NFP! It can get a bit like flipping a coin...

 

Indeed! I got slipped so bad on that exit that I took just short of a 2R loss on that trade!!

 

All right...lesson learned...new rigid rule...don't take trades ahead of NFP (and probably FOMC, too). If I'm already well into a trade that has room, etc., I can leave it on if I choose.

[Marko23 10]

These moves are for computers only.

 

http://www.traderslaboratory.com/forums/attachment.php?attachmentid=25238&stc=1&d=1310129058

 

Or very deep pockets, 1.5 cent up.

Edited July 8, 2011 by Marko23

[Marko23 10]

2nd correction down

 

http://www.traderslaboratory.com/forums/attachment.php?attachmentid=25242&stc=1&d=1310132796

[Cory2679 11]

USD/JPY finding at least temporary support at the trendline I'd drawn...

[joshdance 10]

new rigid rule...don't take trades ahead of NFP (and probably FOMC, too).

 

Why not just extend it to "all significant planned news events"? For currencies I would think NFP is the most volatile, but retail sales, housing numbers, etc., can all make unexpectedly large moves.

[Marko23 10]

Same procedure: buyers move the price down.

 

Whoever follows them and does not cover

gets serviced when the same buyers start to buy.

 

The service levels (stops) are build from the same traders,

who will service them some minutes later..

 

http://www.traderslaboratory.com/forums/attachment.php?attachmentid=25244&stc=1&d=1310133479

[Marko23 10]

1-2-3 down immediately followed by 1-2-3 up

 

http://www.traderslaboratory.com/forums/attachment.php?attachmentid=25245&stc=1&d=1310133674

[Cory2679 11]

Why not just extend it to "all significant planned news events"? For currencies I would think NFP is the most volatile, but retail sales, housing numbers, etc., can all make unexpectedly large moves.

 

In my experience, avoiding trades ahead of all signficant news events would mean all too often missing out on the main intraday swing.

 

In my limited experience, I've found everyday news not to be a concern...even helpful to keep the market swinging nicely...for the most part, the super crazy volatility occurs only with NFP and FOMC (with exceptions, of course). The other news is manageable, IMHO.

[Marko23 10]

Why not just extend it to "all significant planned news events"? For currencies I would think NFP is the most volatile, but retail sales, housing numbers, etc., can all make unexpectedly large moves.

 

That's not neccessary. Don't get scared or fear-mongered.

NFP may be an exception.

 

If you taken a bigger timeframe and a larger stop,

you can trade across them.

5m or 15m is not appropriate.